3 ASX food shares for hungry investors to buy today

Due to population growth both at home and globally, there is an increasing number of mouths that need feeding.

I believe that this has positioned many of Australia’s food companies perfectly to profit over the long-term. With that in mind, should you buy these ASX food shares?

Costa Group Holdings Ltd (ASX: CGC)

Last month this horticulture company reaffirmed its guidance for low double digit NPAT-S growth for the 12 months ending June 30. In addition to this, Costa reconfirmed its long-term guidance for an average trajectory of low double digit annual average NPAT-S growth over a three to five year horizon. Due the quality and diversity of its operations and its bold expansion plans, I remain confident that Costa will deliver on this. Which could make it worth considering as a long-term investment.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

Another food share to consider with a long term view is this pizza chain operator. Although in the near term I suspect that its shares could remain reasonably volatile, I believe if you’re prepared to hold onto them for the long-term you could be rewarded handsomely if the company delivers on its expansion plans. Management recently reiterated its plan to nearly double the size of its store network over the next seven years.

Freedom Foods Group Ltd (ASX: FNP)

I’m a big fan of this healthy food and UHT producer and believe it could be a great option for investors. Freedom Foods recently provided a trading update which revealed that it has continued to experience strong demand across its business activities in Australia, China and SE Asia. In light of this, it expects to achieve revenue in the range of $500 million to $530 million in FY 2019. This will be an increase of between 41.6% and 50.1% on the $353 million revenue it achieved in FY 2018.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended COSTA GRP FPO. The Motley Fool Australia owns shares of COLESGROUP DEF SET. The Motley Fool Australia has recommended Freedom Foods Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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